SD Reader: San Diego Economy Still Staggering

[no_such_reality]

You also need to back out renters.

That said, the $500K ocean fronts aren’t showing up anytime soon.

[Eugene]

[quote=no_such_reality]You also need to back out renters.
[/quote]

Not if I want to compare prices against household incomes.

[Eugene]

[quote=no_such_reality]You also need to back out renters.
[/quote]

Not if I want to compare prices against household incomes.

[Eugene]

[quote=no_such_reality]You also need to back out renters.
[/quote]

Not if I want to compare prices against household incomes.

[Eugene]

[quote=no_such_reality]You also need to back out renters.
[/quote]

Not if I want to compare prices against household incomes.

[Eugene]

[quote=no_such_reality]You also need to back out renters.
[/quote]

Not if I want to compare prices against household incomes.

[CA renter]

[quote=Eugene]This discussion made me wonder, what IS the real median multiple in San Diego? And it’s not an easy question to answer, because, between apartment complexes, student housing, and military housing, a lot of low-end inventory is essentially out of the regular real estate market, and any attempts to look at MLS at the face value will inevitably result in skewed results.

But I made some educated guesses, cooked up a model, pulled in some census data, and voila, the true state of San Diego RE, as of January 2011:

[img_assist|nid=14433|title=|desc=|link=node|align=left|width=100|height=52]

and now just detached:

[img_assist|nid=14434|title=|desc=|link=node|align=left|width=100|height=53]

In this model, the true median home price is $270,000, and the true median multiple is 4.5.[/quote]

Thanks for the graphs, Eugene.

Perhaps I’m not reading these charts correctly, but it would seem they ought to be leaning more to the right. This does not seem to correlate with what I’m seeing on the ground. Of course, even I would admit that some areas are pretty close to “reasonable,” but these graphs make it look like everthing is just hunky-dory.

[CA renter]

[quote=Eugene]This discussion made me wonder, what IS the real median multiple in San Diego? And it’s not an easy question to answer, because, between apartment complexes, student housing, and military housing, a lot of low-end inventory is essentially out of the regular real estate market, and any attempts to look at MLS at the face value will inevitably result in skewed results.

But I made some educated guesses, cooked up a model, pulled in some census data, and voila, the true state of San Diego RE, as of January 2011:

[img_assist|nid=14433|title=|desc=|link=node|align=left|width=100|height=52]

and now just detached:

[img_assist|nid=14434|title=|desc=|link=node|align=left|width=100|height=53]

In this model, the true median home price is $270,000, and the true median multiple is 4.5.[/quote]

Thanks for the graphs, Eugene.

Perhaps I’m not reading these charts correctly, but it would seem they ought to be leaning more to the right. This does not seem to correlate with what I’m seeing on the ground. Of course, even I would admit that some areas are pretty close to “reasonable,” but these graphs make it look like everthing is just hunky-dory.

[CA renter]

[quote=Eugene]This discussion made me wonder, what IS the real median multiple in San Diego? And it’s not an easy question to answer, because, between apartment complexes, student housing, and military housing, a lot of low-end inventory is essentially out of the regular real estate market, and any attempts to look at MLS at the face value will inevitably result in skewed results.

But I made some educated guesses, cooked up a model, pulled in some census data, and voila, the true state of San Diego RE, as of January 2011:

[img_assist|nid=14433|title=|desc=|link=node|align=left|width=100|height=52]

and now just detached:

[img_assist|nid=14434|title=|desc=|link=node|align=left|width=100|height=53]

In this model, the true median home price is $270,000, and the true median multiple is 4.5.[/quote]

Thanks for the graphs, Eugene.

Perhaps I’m not reading these charts correctly, but it would seem they ought to be leaning more to the right. This does not seem to correlate with what I’m seeing on the ground. Of course, even I would admit that some areas are pretty close to “reasonable,” but these graphs make it look like everthing is just hunky-dory.

[CA renter]

[quote=Eugene]This discussion made me wonder, what IS the real median multiple in San Diego? And it’s not an easy question to answer, because, between apartment complexes, student housing, and military housing, a lot of low-end inventory is essentially out of the regular real estate market, and any attempts to look at MLS at the face value will inevitably result in skewed results.

But I made some educated guesses, cooked up a model, pulled in some census data, and voila, the true state of San Diego RE, as of January 2011:

[img_assist|nid=14433|title=|desc=|link=node|align=left|width=100|height=52]

and now just detached:

[img_assist|nid=14434|title=|desc=|link=node|align=left|width=100|height=53]

In this model, the true median home price is $270,000, and the true median multiple is 4.5.[/quote]

Thanks for the graphs, Eugene.

Perhaps I’m not reading these charts correctly, but it would seem they ought to be leaning more to the right. This does not seem to correlate with what I’m seeing on the ground. Of course, even I would admit that some areas are pretty close to “reasonable,” but these graphs make it look like everthing is just hunky-dory.

[CA renter]

[quote=Eugene]This discussion made me wonder, what IS the real median multiple in San Diego? And it’s not an easy question to answer, because, between apartment complexes, student housing, and military housing, a lot of low-end inventory is essentially out of the regular real estate market, and any attempts to look at MLS at the face value will inevitably result in skewed results.

But I made some educated guesses, cooked up a model, pulled in some census data, and voila, the true state of San Diego RE, as of January 2011:

[img_assist|nid=14433|title=|desc=|link=node|align=left|width=100|height=52]

and now just detached:

[img_assist|nid=14434|title=|desc=|link=node|align=left|width=100|height=53]

In this model, the true median home price is $270,000, and the true median multiple is 4.5.[/quote]

Thanks for the graphs, Eugene.

Perhaps I’m not reading these charts correctly, but it would seem they ought to be leaning more to the right. This does not seem to correlate with what I’m seeing on the ground. Of course, even I would admit that some areas are pretty close to “reasonable,” but these graphs make it look like everthing is just hunky-dory.

[sdrealtor]

From what I see on the ground things are pretty hunky-dory price vs income. The disconnect comes in the psychology. Most people I see can afford to buy at todays interest rates and prices in neighborhoods that are in the range of acceptability/desireability to them. What is stopping them is fear of futher declines. So they continue looking for the perfect house at a giveaway price and buy only under those circumstances. CAR wouldnt you agree that pretty much describes your current situation?

[sdrealtor]

From what I see on the ground things are pretty hunky-dory price vs income. The disconnect comes in the psychology. Most people I see can afford to buy at todays interest rates and prices in neighborhoods that are in the range of acceptability/desireability to them. What is stopping them is fear of futher declines. So they continue looking for the perfect house at a giveaway price and buy only under those circumstances. CAR wouldnt you agree that pretty much describes your current situation?

[sdrealtor]

From what I see on the ground things are pretty hunky-dory price vs income. The disconnect comes in the psychology. Most people I see can afford to buy at todays interest rates and prices in neighborhoods that are in the range of acceptability/desireability to them. What is stopping them is fear of futher declines. So they continue looking for the perfect house at a giveaway price and buy only under those circumstances. CAR wouldnt you agree that pretty much describes your current situation?

[sdrealtor]

From what I see on the ground things are pretty hunky-dory price vs income. The disconnect comes in the psychology. Most people I see can afford to buy at todays interest rates and prices in neighborhoods that are in the range of acceptability/desireability to them. What is stopping them is fear of futher declines. So they continue looking for the perfect house at a giveaway price and buy only under those circumstances. CAR wouldnt you agree that pretty much describes your current situation?

[Author]

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